Joining us today is Margie Foley, founder of Foley Management, a firm that assists individuals and families manage their finances and helps protect against financial fraud. Her company supplies daily management services, bill paying, appointment scheduling, and home and staff management. She discusses the different types of fraud and describes how fraudsters exploit older adults and even young people. Margie has some great tips for protecting your finances in today's episode of Beyond the Balance Sheet.
IN THIS EPISODE:
[01:46] Margie discusses the growing problem of fraud among the elderly, with the majority being in the area of confidence fraud
[05:40] What two age groups are most vulnerable
[07:40] What are the solutions to this problem, and how a firm like Foley Management can assist
[10:23] Margie explains that some families are resistant to engage these types of services and relates a story where her firm was able to recover a large sum of money
[17:07] Margie has advice about Internet banking
KEY TAKEAWAYS:
Logging out of accounts and disconnecting from the Internet at the end of the day is crucial to safeguarding your financial information.
Young adults are as vulnerable to financial fraud as older people because of the amount of time they are online.
It's essential to have more than one entity overseeing your finances.
RESOURCES:
Beyond the Balance Sheet Website
Foley Management Consulting Firm - Website
BIOGRAPHY:
Margie Foley brings over thirty years of successful business experience as an accomplished business owner, guest speaker, international sales executive, and consultant to numerous businesses and families. Recognizing an unmet need to provide confidential administrative services to individuals and families, Margie founded Foley Management Consulting. As trusted advisors, Foley Management is an ethical partner in the development and maintenance of daily management services, including bill pay, appointment scheduling, and home and staff management. Foley Management is a trusted liaison with financial advisors, home offices, health care teams, and attorneys.
